Swych, Inc., a Plano, Texas-based provider of a digital gifting platform, completed its Series A round of funding.
The amount of the deal was not disclosed.
Backers included UAE Exchange Group, a global money transfer, foreign exchange and payment solutions provider.
Led by Deepak Jain, CEO and Founder, Swych offers a mobile platform which allows distribution of digital gifts that can be instantly delivered internationally and can be redeemed by the recipient at a local retailer of their own choice on the Swych app.
Currently available in the United States, the company will closely collaborate with UAE Exchange to develop and promote digital gifting services in major markets, leveraging the global reach of UAE Exchange.
The service between the United States and India is targeted as the premiere launch.
Launched in 2016, Swych has built a large network of 120+ US retailers. It also has offices in San Francisco, California.